CALGARY, Feb. 19 /PRNewswire-FirstCall/ - Advantage Energy Income Fund
("Advantage" or the "Fund") announces that the cash distribution for the month
of February will be $0.12 per Unit. The distribution represents an annualized
yield of 13.6% based on the February 18 closing price of $10.57 per Unit.
The distribution will be payable on March 17, 2008 to Unitholders of
record at the close of business on February 29, 2008. The ex-distribution date
is February 27, 2008. The cash distribution is based on approximately 138.9
million Units outstanding.
The CDN$0.12 per Unit is equivalent to approximately US$0.12 per Unit if
converted using a Canadian/US dollar exchange rate of 1.02. The US dollar
equivalent distribution will be based upon the actual Canadian/US exchange
rate applied on the payment date and will be net of any Canadian withholding
taxes that may apply.
Hedging Update
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Additional hedging has been completed for 2008 to i) stabilize cash flows
and ii) ensure that the Fund's capital program is substantially funded out of
cash flow. Approximately 51% (net of royalties) of our natural gas is now
hedged for the 2008 calendar year at a floor of $7.43/mcf (currently
equivalent to approximately NYMEX US$8.43/mcf). Advantage has also hedged 38%
(net of royalties) of its 2008 crude oil production at an average price of
$94.07/bbl (currently equivalent to approximately NYMEX US$95.95 WTI).
Please visit our website for details on our hedging position:
www.advantageincome.com.
Advisory
The information in this press release contains certain forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe",
"would" and similar expressions. These statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond Advantage's
control, including: the impact of general economic conditions; industry
conditions; changes in laws and regulations including the adoption of new
environmental laws and regulations and changes in how they are interpreted and
enforced; fluctuations in commodity prices and foreign exchange and interest
rates; stock market volatility and market valuations; volatility in market
prices for oil and natural gas; liabilities inherent in oil and natural gas
operations; uncertainties associated with estimating oil and natural gas
reserves; competition for, among other things, capital, acquisitions, of
reserves, undeveloped lands and skilled personnel; incorrect assessments of
the value of acquisitions; changes in income tax laws or changes in tax laws
and incentive programs relating to the oil and gas industry and income trusts;
geological, technical, drilling and processing problems and other difficulties
in producing petroleum reserves; and obtaining required approvals of
regulatory authorities. Advantage's actual results, performance or achievement
could differ materially from those expressed in, or implied by, such
forward-looking statements and, accordingly, no assurances can be given that
any of the events anticipated by the forward-looking statements will transpire
or occur or, if any of them do, what benefits that Advantage will derive from
them. Except as required by law, Advantage undertakes no obligation to
publicly update or revise any forward-looking statements.
SOURCE Advantage Energy Income Fund
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